Samir’s Selection 01/15/2014 (p.m.)
Failing elites threaten our future – FT.com
“Here are three visible failures. First, the economic, financial, intellectual and political elites mostly misunderstood the consequences of headlong financial liberalisation…Second, in the past three decades we have seen the emergence of a globalised economic and financial elite. Its members have become ever more detached from the countries that produced them…. This, then, is ever more a plutocracy.Third, in creating the euro, the Europeans took their project beyond the practical into something far more important to people: the fate of their money… Yet it is the constitutional disorder of the eurozone that is least emphasised… This divorce between accountability and power strikes at the heart of any notion of democratic governance. The eurozone crisis is not just economic. It is also constitutional.”
Posted from Diigo. The rest of my favorite links are here.